Restraing Regulatory Capture? Anglo America, Crisis Politics and Trajectories of Change in Global Financial Governance

A growing number of respected commentators now argue that regulatory capture of public agencies and public policy by leading banks was one of the main causal factors behind the financial crisis of 2007–2009, resulting in a permissive regulatory environment. This regulatory environment placed a faith in banks own internal risk models, contributed to pro-cyclical behaviour and turned a blind eye to excessive risk taking. The article argues that a form of ‘multi-level regulatory capture’ characterized the global financial architecture prior to the crisis. Simultaneously, regulatory capture fed off, but also nourished the financial boom, in a fashion that mirrored the life cycle of the boom itself. Minimizing future financial booms and crises will require continuous, conscious and explicit efforts to restrain financial regulatory capture now and into the future. The article assesses the extent to which this has been achieved in current global financial governance reform efforts and highlights some of the persistent difficulties that will continue to hamper efforts to restrain regulatory capture. The evidence concerning the extent to which regulatory capture is being effectively restrained is somewhat mixed, and where it is happening it is largely unintentional and accidental. Recent reforms have overlooked the political causes of the crisis and have failed to focus explicitly or systematically on regulatory capture.

The Supremacy of the Sequence: Key Elements and Dimensions in the Process of Change

How single organizations manage the process of change and why only some of them are able to actually reach radical change are central questions in today’s theoretical debate. The role played by the process of change and its dimensions (namely, pace, sequence and linearity), however, has been poorly investigated. Drawing on archetype theory, this paper explores: (i) whether a specific pace of radical change exists; (ii) whether different outcomes of change are characterized by different sequences of change in key-structures and systems (iii) how the three dimensions of the process of change possibly interact. As an example of organizational change the study takes into consideration processes of accounting change in three departments of two Canadian and two Italian municipalities. The results suggest the supremacy of the sequence of implemented changes over the other two dimensions of the process in order to achieve a radical outcome of change.

School-based counseling using systematic feedback: A cohort study evaluating outcomes and predictors of change

The outcomes of school-based counseling incorporating the Partners for Change Outcome Monitoring System (PCOMS) were evaluated using a cohort design, with multilevel modeling to identify predictors of change. Participants were 288 7-11 year olds experiencing social, emotional or behavioral difficulties. The intervention was associated with significant reductions in psychological distress, with a pre-post effect size (d) of 1.49 on the primary outcome measure and 88.7% clinical improvement. Greater improvements were found for disabled children, older children, and where CBT methods were used. The findings provide support for the use of systematic feedback in therapy with children.

Belfast's Traditional Music Scene: A Narrative of Change and Development

Today Belfast is home to a vibrant traditional music scene. There have never been more sessions, concerts, classes or lectures devoted to traditional music in the north's biggest city. A complex system of promoters, performers and listeners has emerged in a city that is growing in confidence as it moves away from the dark days of the Troubles. But how does this system function? While Dowling (2014) has examined the development of traditional music-making in Belfast as it shifted from a pre-conflict to conflict ridden environment, little research has been carried out into the reasons behind the boom in traditional music-making in a post-conflict setting.

This paper examines the impact upon the traditional music scene of the first wave of students to arrive in Belfast after the signing of the Good Friday Agreement in 1998. These musicians, such as Donal O'Connor, Ruadhrai O'Kane and Aidan Walsh have had a lasting impact upon the lives of musicians native to Belfast, helping to bring traditional music to new venues and audiences.

The work of Belfast-based music schools with varying remits, such as Belfast Trad., and the Andersonstown School of Traditional and Contemporary Music, is also examined for the purpose of illustrating how both adults and young people are being educated about their musical heritage.

Criminal Justice Reforms in Northern Ireland: The Agents of Change

This chapter examines who and what brought about the transformation in the criminal justice system of Northern Ireland between 1998 and 2015, seeking to pinpoint the critical moments which stimulated the reforms, how they were delivered, and through what processes they are now being maintained. It seeks to identify the key agents of change and considers whether it is possible to generalise from Northern Ireland’s experience so that other conflicted societies might benefit from the lessons learned.

Going beyond the identification of change facilitators to effectively implement a new model of services: lessons learned from a case example in paediatric rehabilitation

Purpose: To identify facilitators and barriers to service reorganization, how they evolved and interacted to influence change during the implementation of a new service delivery model of paediatric rehabilitation. Methods: Over 3 years, different stakeholders responded to SWOT questionnaires (n = 139) and participated in focus groups (n = 19) and telephone interviews (n = 13). A framework based on socio constructivist theories made sense of the data. Results: Facilitators related to the programme's structure (e.g. funding), the actors (e.g. willingness to test the new service model) and the change management process (e.g. participative approach). Some initial facilitators became barriers (e.g. leadership lacked at the end), while other barriers emerged (e.g. lack of tools). Understanding factor interactions requires examining the multiple actors’ intentions, actions and consequences and their relations with structural elements. Conclusions: Analysing facilitators and barriers helped better understand the change processes, but this must be followed by concrete actions to successfully implement new paediatric rehabilitation models.

A psychosocial approach to understanding pilot and controller acceptance of change in ATM, based on three CDA case studies

Next generation ATM systems cannot be implemented in a technological vacuum. The further ahead we look, the greater the likely impact of societal factors on such changes, and how they are prioritised and promoted. The equitable sustainability of travel behaviour is rising on the political agenda in Europe in an unprecedented manner. This paper examines pilot and controller attitudes towards Continuous Descent Approaches (CDAs). It aims to promote a better understanding of acceptance of change in ATM. The focus is on the psychosocial context and the relationships between perceived societal and system benefits. Behavioural change appeared more correlated with such benefit perceptions in the case of the pilots. For the first time in the study of ATM implementation, and acceptance of change, this paper incorporates the Seven Stages of Change model, based on the constructs of the Theory of Planned Behaviour. It employs a principal components (factor) analysis, and further explores the intercorrelations of benefit perceptions, known in psychology as the ‘halo effect’. Disbenefit perceptions may break down this effect, it appears. For implementers of change, this evidence suggests an approach in terms of reinforcing the dominant benefit(s) perceived, for sub-groups within which a halo effect is evident. In the absence of such an effect, perceived disbenefits, such as with respect to workload and capacity, should be off-set against specific, perceived benefits of the change, as far as possible. This methodology could be equally applied to other stakeholders, from strategic planners to the public. The set of three case studies will be extended beyond CDA trials. A set of concise guidelines will be published with a strong focus on practical advice, in addition to continued work enabling a better understanding of the expected, increasing psychosocial contributions to successful and unsuccessful efforts at ATM innovation and change.